• E-mail
• Print
• Comment
• Font Size
• Digg
• del.icio.us
• Discuss article

Watergy Produced Water Solutions Receives Additional Contract for Oil and Gas Produced Water Treatment

Posted on: Tuesday, 27 November 2007, 09:01 CST

DENVER, Nov. 27 /PRNewswire-FirstCall/ -- Watergy Produced Water Solutions, Inc. ("WPWS") an oil and gas services provider of turnkey produced water management solutions announced it has received an additional contract to treat water produced from oil and gas exploration in the Rocky Mountain region.

The contract provides for Watergy's technology and equipment to treat an initial 4,000 barrels a day of produced water increasing to 20,000 barrels a day. The treated water will be reused beneficially for irrigation purposes. The source of the water will be from Oil and Gas production on the Western Slope of Colorado. Watergy will also receive an operation and maintenance contract for this facility upon startup. The combined value of the equipment and services contracts is estimated to be $5,000,000.00 over five years.

George Kast, CEO stated, "This project is of particular interest as we will be reusing the treated water to irrigate high-value agricultural crops. We will create a real world demonstration of our technology as a model for beneficial use of produced water from Oil and Gas production. The Rocky Mountain region is seeing a sharp rise in E&P activity and the industry is generating a tremendous amount of water. Our approach to reusing this water provides an environmental and cost effective solution."

Watergy also reports that it has delivered its initial Oil and Gas produced water treatment facility, and begun start up and testing for the facility. Watergy indicates it is in discussion with numerous other producers for the treatment of their produced waters.

ABOUT WATERGY PRODUCED WATER SOLUTIONS:

Watergy Produced Water Solutions, Inc. is a Denver Colorado based company focused on providing advanced water management and treatment services for CBNG energy producers in the Rocky Mountain region. The Company offers proprietary water treatment technologies for cost effective management and development of CBNG resources. Watergy is a wholly owned subsidiary of Global Water Technologies.

ABOUT GLOBAL WATER TECHNOLOGIES:

Global Water Technologies, Inc. is a "CleanTech" water treatment and services company with "clearly" innovative technologies, focused on the energy, power, oil and gas, process, HVAC and municipal markets. Through its subsidiaries, Electric H2O, Inc. and Watergy Produced Water Solutions, Inc., the company utilizes its proprietary technologies and services programs to increase operating efficiencies and reduce water usage through comprehensive water management solutions. GWT has an established client base of over 500 customers in more than 25 countries worldwide. GWT's products treat over 10 billion gallons of water per day.

FORWARD LOOKING STATEMENT:

Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include, but are not limited to, risk factors inherent in doing business. Forward-looking statements may be identified by terms such as "may,""will,""should,""could,""expects,""plans,""intends,""anticipates,""believes,""estimates,""predicts,""forecasts,""potential," or "continue," or similar terms or the negative of these terms. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. The company has no obligation to update these forward-looking statements.

Watergy Produced Water Solutions, Inc.

CONTACT: Investor Relations, Global Water Technologies, Inc., +1-303-215-1100

Web site: http://www.gwtr.com/http://www.watergypws.com/

Source: PRNewswire-FirstCall

More News in this Category